Kenya Pipeline Company selected PricewaterhouseCoopers (PwC) as lead adviser on its proposed purchase of Kenya Petroleum Refineries Ltd. (KPRL), the only crude-processing company in East Africa’s largest economy, Bloomberg reported.
Kenya Pipeline Company’s Chairman, John Ngumi, said that a group of companies led by PwC will carry out a full-scale research and analysis on KPRL and its outcome will be announced before January. Ngumi added: “we can then decide what do with KPRL, if it’s going to be bought by KPC or a synergy between the two companies,” according to Ecofin Agency.
KPRL’s operations have been put on hold since 2013. The government gained full ownership of the facility in April when the Treasury paid India-based Essar Oil Ltd. $4.9m for its 50% interest in the refinery.
Kenya is preparing to start producing at least 2,000b/d of oil a day in mid-2017 from fields in the northern Turkana region that are being developed by Tullow Oil Plc. The government will haul the crude via road and rail and may process it at the refinery, which is situated at the Indian Ocean port city of Mombasa.